The Prestige was a single-hulled Liberian-owned oil tanker, operating under a Bahamian flag, which sank off the coast of Galicia, Spain on 19 November 2002 after suffering a catastrophic hull failure.
The resulting oil spill, estimated at some 20 million gallons of heavy fuel oil, wreaked havoc along coastlines of Spain, France, and Portugal. The spill was the largest environmental disaster in the history of both Spain and Portugal.
In August, the American Bureau of Shipping, the classification society that certified the vessel as seaworthy, was cleared in the case.
The dry bulk shipping sector has seen a dramatic pullback in new vessel orders, with bulker newbuilding contracting capacity falling 54% year-over-year to 25 million deadweight tonnes between January and...
The Port of Savannah has identified Vietnam as its fastest-growing trade partner, driven by a significant expansion in manufacturing capabilities and logistics infrastructure development in Southeast Asia. Container trade between...